Gas Detection Equipment Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
2 Jun, 2023
The global gas detection equipment market size is expected to grow from $4.02 billion in 2022 to $4.39 billion in 2023 at a compound annual growth rate (CAGR) of 9.36%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global gas detection equipment market size is expected to reach $6.12 billion in 2027 at a CAGR of 8.66%.
Global Gas Detection Equipment Market Key Driver
Increased demand for natural gas and petroleum is projected to drive the growth of the gas detection equipment market in the future. Natural gas is a mixture of hydrocarbon-rich gases, whereas petroleum is a liquid mixture that may be used to manufacture oil, diesel fuel, and a variety of other products. As the world's population grows, so will the demand for energy sources like natural gas and petroleum. This has resulted in an increase in exploration and production operations, which has resulted in an increase in the use of gas detection devices to safeguard worker safety. Gas detection systems are used in the oil and gas industry to detect hazards to personnel on the job and in the industrial environment.
Get a sample of the global gas detection equipment market reportGlobal Gas Detection Equipment Market Segments
The global gas detection equipment market is segmented:
1) By Product Type: Fixed Gas Detector, Portable Gas Detector
2) By Technology: Semiconductor, Infrared (IR), Laser-basedDetection, Catalytic, PhotoionizationDetector (PID), Other Technology
3) By End-use: Medical, Building Automation And Domestic Appliances, Environmental, Petrochemical, Automotive, Industrial, Other End-use
4) By Geography: The regions covered in the gas detection equipment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global gas detection equipment market.
Major Gas Detection Equipment Industry Players
Honeywell International Inc, Teledyne Technologies Inc, Emerson Electric Co, Thermo Fisher Scientific Inc, Dragerwerk AG & Co KGaA, Trolex Ltd, Carrier Global Corporation, Industrial Scientific Corporation, Emerson Electric Co, Aerionics Inc, MSA Safety Incorporated, RKI Instruments Inc, Sensor Electronics Corporation, Interscan Corporation, Mil-Ram Technology Inc, Beijing SDL Technology Co. Ltd, Hanwei Electronics Group Corporation, RIKEN KEIKI CO LTD, Halma plc, Process Sensing Technologies Ltd, Blackline Safety Corp
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Gas Detection Equipment Market Overview
Gas detection equipment is a device that detects potentially hazardous gases and emits warning signs when they detect elevated quantities of dangerous gas by sounding alarms or flashing lights. It is intended to identify explosive, flammable, and poisonous gases with as little delay as possible.
Gas Detection Equipment Global Market Report 2023 provides data on the global gas detection equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gas detection equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.